On Sept. 1, 20x7, Beam Corp. received an order for equipment from a foreign customer for 300,000 local currency units (LCU) when the peso equivalent was P96,000. Beam shipped the equipment on October 15, 20x7 and billed the customer for 300,000 LCU when the peso equivalent was P100,000. Beam received the customer's remittance in full on Nov. 16, 20x7, and sold the 300,000 LCU for P105,000. In its income statement for the ye